Axon Enterprise, Inc (NASDAQ:AXON) Holdings Cut by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Axon Enterprise by 10.8% in Q1, holding 8,704 shares valued at $4.58 million at the end of the quarter.
• Analysts have increased price targets for Axon Enterprise, with Bank of America raising it to $895.00 and JPMorgan Chase elevating it to $850.00, reflecting a generally positive view on the stock.
• Shares of Axon Enterprise decreased by 1.0% in mid-day trading, closing at $728.74 with a market cap of $56.73 billion and a PE ratio of 176.02.

Pacer Advisors Inc. decreased its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,704 shares of the biotechnology company's stock after selling 1,059 shares during the quarter. Pacer Advisors Inc.'s holdings in Axon Enterprise were worth $4,578,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pinion Investment Advisors LLC increased its stake in shares of Axon Enterprise by 3.0% in the first quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company's stock valued at $341,000 after purchasing an additional 19 shares during the period. Kentucky Retirement Systems grew its holdings in Axon Enterprise by 0.4% in the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company's stock worth $2,605,000 after buying an additional 19 shares in the last quarter. WCM Investment Management LLC increased its position in Axon Enterprise by 0.8% in the 1st quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock valued at $1,306,000 after acquiring an additional 19 shares during the period. HBK Sorce Advisory LLC raised its stake in Axon Enterprise by 4.6% during the 1st quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company's stock valued at $237,000 after acquiring an additional 20 shares in the last quarter. Finally, Prudent Man Advisors LLC boosted its position in Axon Enterprise by 1.6% during the 1st quarter. Prudent Man Advisors LLC now owns 1,298 shares of the biotechnology company's stock worth $683,000 after acquiring an additional 20 shares during the period. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Down 2.5%

Shares of NASDAQ AXON traded down $18.91 during mid-day trading on Friday, hitting $736.58. 232,543 shares of the company traded hands, compared to its average volume of 694,592. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68. Axon Enterprise, Inc has a 1 year low of $279.02 and a 1 year high of $830.21. The stock has a market capitalization of $57.34 billion, a price-to-earnings ratio of 177.92, a PEG ratio of 83.44 and a beta of 1.29. The business has a 50 day moving average of $764.32 and a two-hundred day moving average of $655.08.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The business's quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Transactions at Axon Enterprise

In other news, CFO Brittany Bagley sold 3,400 shares of Axon Enterprise stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $700.00, for a total transaction of $2,380,000.00. Following the transaction, the chief financial officer owned 131,833 shares in the company, valued at approximately $92,283,100. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Caitlin Elizabeth Kalinowski sold 1,300 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $738.84, for a total value of $960,492.00. Following the transaction, the director directly owned 4,829 shares in the company, valued at $3,567,858.36. The trade was a 21.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,642 shares of company stock worth $25,090,528. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXON. JPMorgan Chase & Co. raised their price target on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Barclays upped their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Bank of America raised their price objective on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wolfe Research began coverage on Axon Enterprise in a research note on Monday, July 7th. They set an "outperform" rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $772.08.

About Axon Enterprise

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.